Restricted advice proving most attractive to younger generations

The consultancy's ‘The Advice Gap 2024' report – published today (3 July) – noted the industry had debated "various flavours" of the independent versus restricted debate "decades". Slightly over half of those aged 18-24 surveyed signalled restricted advice sounded more appealing than independent advice. Among respondents aged 25-34, more than 40% also pointed at restricted offerings as more appealing. Restricted advice firms currently make up around 10% of the market, but generate almost a third (32%) of the sector's overall income, the report estimated. The trend towards appeal...